JPM Asia Growth Fund C - Net Accumulation

Asia Equities

New for 2019. A portfolio of structural growth ideas

A solid and consistent longer-term performance saw this fund clinch highly commended status in the Best Asia Pacific Fund category of the Money Observer 2018 awards.

The fund benefits from the stewardship of Joanna Kwok and Mark Davids, both of whom have more than 20 years of investment experience. They are able to draw on a well-resourced emerging markets and Asia Pacific team at JPMorgan.

The process follows the same quality/ growth bias investors have come to expect from JPMorgan’s equity-based strategies managed across the region. The portfolio contains up to 60 names, typically structural growth ideas – companies that boast quality franchises and consistent earnings streams.

The managers build the portfolio based on the convictions of country specialists, who are responsible for single-country strategies across the region, and also those of sector analysts. The conviction based nature of the fund is evident in its significant deviation from its benchmark and ability to have some latitude at country and sector level.

At the end of 2018 its largest regional weighting was to China, which accounted for 36% of the fund’s £257 million of assets, much in line with the MSCI Asia ex Japan index. Its most significant country overweights are to Indonesia and India.

On a sector basis, the managers favour financials, technology and consumer discretionary stocks, which collectively account for almost 80% of the portfolio. Financials is its largest sector overweight with insurance also being favoured.

Ongoing charges are attractive, at 0.9%, providing a head start for investors compared with more expensive peers.

Narrative and ratings content all as of January 2019.  

See all Money Observer rated funds
Name
JPM Asia Growth Fund C - Net Accumulation
Manager
JPMorgan Funds Limited
Type
Open Ended Investment Company
ISIN
GB00B235GR40
Sector
Asia Pacific Excluding Japan
Launched
20/08/2012
OCF
0.9 %
Risk Rating
5
3 Year Sharpe
1.11
3 Year Alpha
6.16
Yield
0.9 %
Benchmark
MSCI AC Asia Ex Japan NR USD
The fund seeks to provide long-term capital growth from investment primarily in a growth biased portfolio of companies in Asia (excluding Japan).
Holding %
Taiwan Semiconductor Manufacturing Co Ltd 8.83 %
Samsung Electronics Co Ltd 8.45 %
Alibaba Group Holding Ltd ADR 7.72 %
Tencent Holdings Ltd 6.96 %
AIA Group Ltd 6.55 %
PT Bank Central Asia Tbk 4.17 %
Ping An Insurance (Group) Co. of China Ltd Class H 3.76 %
HDFC Bank Ltd 3.44 %
Shenzhou International Group Holdings Ltd 2.44 %
WuXi Biologics (Cayman) Inc Registered Shs Unitary 144A/Reg S 2.42 %
Region %
Asia - Emerging 59.46 %
Asia - Developed 38.09 %
Sector %
Financial Services 32.05 %
Technology 18.87 %
Consumer Cyclical 18.17 %
Communication Services 10.44 %
Industrials 6.70 %
Name
JPMorgan Funds Limited
Address
EC4Y 0JP, London, United Kingdom
UCITS
Yes
Legal Structure
Open Ended Investment Company

Managers

Joanna Kwok
Joined 05/27/2015

Joanna Kwok, executive director, is a regional specialist for Asia Pacific ex-Japan equities with the Emerging Markets and Asia Pacific (EMAP) Equities Team based in Hong Kong. She joined the Firm in 2002 as an analyst with the Hong Kong bond team and took up her current role in 2005. Prior to joining the Firm, Joanna spent three years with PricewaterhouseCoopers in London where she qualified as a chartered accountant and one year in Hong Kong as a senior associate in their banking & capital markets division. Joanna obtained a B.A. (Hons) in Natural Sciences from Downing College, Cambridge University.

Mark Davids
Joined 05/27/2015

Mark Davids, managing director, is a regional specialist for Asia Pacific Behavioural Finance and head of the Team with the Emerging Markets and Asia Pacific (EMAP) Equities Team based in Hong Kong. In 2007, Mark relocated from London to Tokyo to head the Behavioural Finance investment desk in Japan, and subsequently relocated to Hong Kong in 2009 to expand the process into the Asia Pacific Region. Prior to this he was a senior portfolio manager for European equity team within the JPMorgan Asset Management European Equity Group. An employee since 1997, Mark was previously a pan-European investment analyst. Prior to this, he worked at the European Commission. Mark obtained a B.A. (joint Hons) in History and German from the University of Manchester and earned an M.Sc. in International Political Economy from the London School of Economics. He is also a CFA charterholder

Data provided by Morningstar.

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